Supply-side economics

Supply-side economics is a school of macroeconomic thought which emphasizes the importance of tax cuts and business incentives in encouraging economic growth, in the belief that businesses and individuals will use their tax savings to create new businesses and expand old businesses, which in turn will increase productivity, employment, and general well-being. While all macroeconomics involves both supply and demand, supply-side economics emphasizes the importance of encouraging increases in supply. It was popularised in the 1970s by the ideas of Robert Mundell, Arthur Laffer, and Jude Wanniski. The term was coined by Wanniski in 1975.

Supply-side economics in popular culture

Supply side or Voodoo economics have been discussed and critiqued in books, songs and films. The social activist and cartoonist Dan Perkins (who writes under the penname Tom Tomorrow) has repeatedly criticised the theory in his weekly cartoon This Modern World.

Related Topics:
Dan Perkins - Tom Tomorrow - This Modern World

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The band Radiohead have alluded to their opposition to such policies in the song Electioneering. http://www.greenplastic.com/lyrics/electioneering.php

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It was also mentioned by Ben Stein in the 1986 movie Ferris Bueller's Day Off.

Related Topics:
Ben Stein - 1986 - Ferris Bueller's Day Off

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